A group of shareholders has filed a lawsuit against Adidas, alleging the sporting goods company failed to warn investors about Kanye West’s anti-Semitic comments and “extreme behavior” that it knew of.
A group of shareholders has filed a lawsuit against Adidas AG, alleging the sporting goods company failed to warn investors about its knowledge of Kanye West’s anti-Semitic comments and “extreme behavior.”
The class-action lawsuit, filed Friday in U.S. District Court in Oregon, alleges that former Adidas Chief Executive Kasper Rorsted and current Chief Financial Officer Harm Ohlmeyer spread false and misleading statements about Adidas’ relationship with West. West has changed his legal name to Ye.
West is a musician and designer who created the popular Yeezy line of sneakers for Adidas.
The complaint states that the defendants failed to disclose the anti-Semitic comments West made in front of Adidas employees and his proposal to title an album Adolf Hitler.
A group of shareholders has filed a lawsuit against Adidas AG, alleging the sporting goods company failed to warn investors about its knowledge of Kanye West’s anti-Semitic comments and “extreme behavior.”
The class-action lawsuit, filed Friday in U.S. District Court in Oregon, alleges that former Adidas Chief Executive Kasper Rorsted and current Chief Financial Officer Harm Ohlmeyer spread false and misleading statements about Adidas’ relationship with West. West has changed his legal name to Ye.
West is a musician and designer who created the popular Yeezy line of sneakers for Adidas.
The complaint states that the defendants failed to disclose the anti-Semitic comments West made in front of Adidas employees and his proposal to title an album Adolf Hitler.The complaint cites a Wall Street Journal articleDescribe West’s behavior in front of Adidas employeesarticle. In 2018, Rorsted and other senior leaders discussed the risks of continuing their relationship with West, which they feared could flare up at any time, according to The Wall Street Journal.
“Adidas was aware of West’s conduct, but did not tell investors it knew about it or warn it that it had considered terminating the relationship,” the lawsuit states.
An Adidas spokesman said the company disagrees with the allegations in the complaint and will take all necessary steps to vigorously defend itself.
